Several industries across the globe such as oil and gas, chemical, and transportation, among others are dependent on fossil fuels for electricity/power generation. Although these fuels are very effective, they are subjected to depletion in the long run. Moreover, these fossil fuels are the origin of greenhouse gases which further lead to global warming. Thus, the shift from fossil fuels to the renewable sources of energy and the development of clean energy are of utmost importance for effectively dealing with climate change and its effects. This shift would also address the growing electricity demand across the globe. As per the data by International Energy Agency (IEA), the world electricity demand will increase by 70% by 2040 due to the emerging economies of India, China, Africa, the Middle East, and South-East Asia.

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Since the fossil fuels are formed in over millions of years by decomposing carbon-based life forms, these resources are completely non-renewable. Moreover, these fossil fuels are the origin of greenhouse gases, which further lead to global warming. Thus, the shift from fossil fuels to the renewable and clean sources of energy is of utmost importance for effectively dealing with climate change and its effects. This shift would also address the growing electricity demand across the globe.

Waste to energy is the process of generating energy in the form of electricity/heat with the treatment of the waste generated with several technologies such as thermo-chemical and bio-chemical. The depleting fossil fuels and the increasing hazards of improper waste management have led to the expansion of waste to energy facilities substantially over the last ten years.

The growth in the Asia-Pacific waste to energy market is attributed to the increasing demand for renewable energy sources in the power generation mix and clean energy. The increasing amount of residential and industrial wastes in China and India and the government support in sustainable energy practices are expected to drive the waste to energy market growth in the region.

Thermo chemical technology fueling the growth in the Asia-Pacific waste to energy market

Waste to energy is the process of generating energy from the waste with the help of several technologies, namely thermo chemical conversion, bio-chemical conversion, and chemical conversion. The energy generated from the waste is used in different applications such as heat, electricity, and transport fuel, among others. Increasing apprehensions related to the proper waste management and the increasing demand of renewable energy sources for power generation are driving the growth of the technologies in the Asia-Pacific waste to energy industry.

Waste to energy leads to reduction in the carbon emissions by transport fuels

With the ongoing advancements in technology, the waste to energy process is expected to be utilized in a wide variety of applications. Moreover, constant innovation in technologies to generate energy from waste is expected to expand the market to the global level. The electrical efficiency rate of development of energy from waste generated is usually higher as compared to the electrical efficiency rate of development from other methods. This is because the waste to energy processes require lower operating temperatures, less steam pressure, and less manpower requirement. Transport fuels are the fastest growing applications of the waste to energy technology, apart from the electricity and heat application. The demand for clean energy in the transportation sector is expected to support this growth. Moreover, the application of waste to energy in combined heat and power (CHP) units application is also expected to increase during the forecast period.

Competitive Landscape

The competitive landscape for the Asia-Pacific waste to energy market demonstrates an inclination toward companies adopting strategies such as business expansion, partnerships/joint ventures and collaboration, and others. The emerging strategies and developments are supporting the growth of the market in the form of increased business expansion activities by the key players in the waste to energy market. Moreover, the growing market of waste to energy is further expected to increase the involvement of companies across different segments of the value chain.

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The Babcock & Wilcox Company, China Everbright International Limited, Xcel Energy, Suez Environment S.A, Waste Management Inc., C&G Environmental Protection Holdings Ltd., Veolia Environment, and Foster Wheeler AG, among others are some of the prominent players in the waste to energy market. The market has presence of a large number of small-sized to medium-sized companies that compete with each other.

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